Is Coconut Grove, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Coconut Grove was a Seller's Market.
Key Takeaway
Coconut Grove is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Coconut Grove, FL
How much do homes in Coconut Grove, FL cost?
Median Sold Price
$1,600,000
$832/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Coconut Grove have sold for 16.8% more than they did a year ago.
Summary: The median home sold price in Coconut Grove was $1,600,000 in June 2024, up 16.8% from last year, and the median price per square foot was $832.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $410.5K | $433K | +5.5% |
| 2 Bedrooms | $950K | $1.3M | +40.3% |
| 3 Bedrooms | $1.6M | $1.7M | +5.0% |
| 4 Bedrooms | $2.1M | $2.7M | +28.6% |
| 5+ Bedrooms | $4.2M | $4.6M | +10.8% |
Summary: Coconut Grove housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 40.3%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 10.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Douglas Park | $552.5K | $725K | +31.2% |
| Coconut Grove | $1.3M | $1.6M | +16.8% |
| Sunrise Harbour | $610K | $505K | -17.2% |
Housing Supply in Coconut Grove, FL
How many homes are available in Coconut Grove, FL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 308 | 332 | +7.8% |
Summary: The Coconut Grove real estate market had 332 homes for sale in June 2024, a 7.8% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 40 | 49 | +22.5% |
| 2 Bedrooms | 65 | 62 | -4.6% |
| 3 Bedrooms | 92 | 90 | -2.2% |
| 4 Bedrooms | 55 | 64 | +16.4% |
| 5+ Bedrooms | 56 | 67 | +19.6% |
Summary: The Coconut Grove housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.5%, 2 bedroom homes decreased by 4.6%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 19.6%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 43 | 35 | -18.6% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Coconut Grove, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Coconut Grove in June 2024, down by 18.6% month-over-month. Of the 35 sold homes, 86% were sold under asking, 11% were sold at asking, and 3% were sold over asking.
Days on Market for Coconut Grove, FL
How long does it take to sell a home in Coconut Grove, FL?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 80 Days | 92 Days | +15.0% |
Summary: Homes in Coconut Grove had an average of 92 days on market in Jun 2024, up by 15% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Coconut Grove are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 35 homes were sold in Coconut Grove; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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